EURUSD has broken short-term support at 1.2050 and is moving lower challenging 1.20 now. Trend remains bearish as long as price continues making lower lows and lower highs. Price has entered the Ichimoku cloud in the Daily chart turning trend to neutral.

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EURUSD is trading inside the Kumo. Next support is at 1.1935. Breaking below it will turn trend bearish. Resistance by the tenkan-sen and kijun-sen is at 1.21 and 1.2178 respectively. The Chikou span is below the candlestick pattern. This is another sign of weakness. As long as price is below 1.21 price will be vulnerable to a move towards 1.17.The material has been provided by InstaForex Company – www.instaforex.com

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